What are the responsibilities and job description for the Collections and Workout Specialist position at 22nd State Bank?
Job Overview
Collections and Workout Specialist
Candidate should have experience with collection and workout on both consumer and commercial loans including SBA loans.
Duties/Responsibilities:
- Monitor both 22nd State Bank and Always.bank’s loan portfolios for delinquency, contacting the customers or loan officers as necessary to ensure collection of payment.
- Review requests for deferments or modifications to determine if those actions will assist with repayment.
- Requesting site visits as required by the SBA and Bank policy.
- Ensure all appropriate legal notifications are sent for collection efforts, repossessions, and foreclosure actions.
- Coordinate with legal counsel on appropriate legal action for loans including foreclosure, repossession, or suit on the note or personal guarantors.
- Engage repossession companies and auction houses to dispose of personal property in a manner that will maximize recovery for the Bank.
- Work with legal counsel during foreclosure proceedings, setting bid prices and monitoring actions of the court.
- Upon receipt of properties into OREO, assess property damage, secure the site, employ rent receivers, and engage a realtor to market the real estate to ensure maximum recovery for the Bank.
- Handle all bankruptcy filings for the Bank, updating the system, engaging legal counsel, and working with the courts as required.
- Review lawsuits and subpoenas related to loans and determine with Chief Credit Officer when legal counsel should be engaged.
- Consult with Chief Credit Officer on action plans for delinquent credits including accrual status, charge off recommendations, and other actions.
- Follow all rules and regulations including all SBA loan program requirements.
- Other duties as assigned.
Required Skills/Abilities:
- Excellent interpersonal and customer service skills.
- Excellent administrative and clerical skills.
- Excellent organizational skills and attention to detail.
- Computer proficiency to use and interact with consumer loan database.
- Proficient with Microsoft Office Suite or related software to prepare documentation.
Education and Experience:
- College Degree preferred, but not required.
- Collections or similar experience required.
Physical Requirements:
- Prolonged periods of sitting at a desk and working on a computer.
- Must be able to lift up to 15 pounds at a time.
Each 22nd State Bank employee must comply with all federal and state regulations, policies, and procedures. This is to include all applicable governmental laws, rules and regulations relevant to their job including all Bank Secrecy Act regulations.
Job Type: Full-time
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Work Location: In person
